Logo of Saudi Enaya Cooperative Insurance Co.
Saudi Enaya Cooperative Insurance Co. board of directors recommended a 32.72% capital reduction to SAR 154.75 million, from SAR 230 million, through a decrease in the par value per share.
The proposed reduction is part of the capital-restructuring plan to wipe out the company’s accumulated losses.
The board also recommended to subsequently increasing the capital through a rights issue.
Logo of Saudi Enaya Cooperative Insurance Co.
Saudi Enaya Cooperative Insurance Co. board of directors recommended a 32.72% capital reduction to SAR 154.75 million, from SAR 230 million, through a decrease in the par value per share.
The proposed reduction is part of the capital-restructuring plan to wipe out the company’s accumulated losses.
The board also recommended to subsequently increasing the capital through a rights issue.
